Halifax Intermediaries has unveiled a new single product range for further advances and product transfers.
It replaces the current separate product ranges with immediate effect.
There is now a single pricing structure for product transfers and further advances, and reduced rates for further advance customers. Further advance rates are now tiered, based on loan to value and total loan size (i.e. existing mortgage amount plus additional borrowing).
Borrowers will also be able to benefit from the availability of two and four year fixed rate products for further advances.
The Further Advance Shared Equity product >85% LTV is separate from the combined range.
Ian Wilson from Halifax Intermediaries said: “These changes are part of our continued efforts to improve our intermediary and customer proposition. This will make it even easier for intermediaries to do product transfers and further advances as only one application is required.
“Customers benefit from a competitive alternative to remortgaging, and intermediaries will still receive a full procuration fee for product transfers and remortgages.”